Apple’s Future iPhone Transaction App

May 12, 2010 :: Posted by - SoSly :: Category - News

An Apple patent application details a system by which customers can use their iPhone as an electronic wallet and payment system.

According to Patently Apple,

Apple’s patent is directed to various techniques for conducting peer-to-peer financial exchanges using a handheld, portable electronic device – which for the sake of simplicity is represented throughout several transaction-based patents – as the iPhone.
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Coming Soon: Use Your iPhone As A Credit Card

May 05, 2010 :: Posted by - SoSly :: Category - News

You’ve probably seen contactless payment terminals before. They’re used in many stores, restaurants, and other locations, with either a smart credit card containing a secure memory card or some sort of fob being used to make the payment. You just wave it at the terminal, and you’ve paid your bill.

Visa and DeviceFidelity are working on a way to let iPhone users make payments by waving their iPhones in front of contactless payment terminals. They’ll be offering an iPhone case with an embedded secure memory card that hosts Visa’s payment application, Visa payWave. Read more…

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